The venture is a trend that is on the rise among the young : according to a study conducted in 2020, 27% of those surveyed would like to be entrepreneurs and start their own business, a figure that exceeds that of young people who want to be officials ( 19.9%), employees in a company (13.8%) or self-employed professionals (8.2%).
The interest of young people in being entrepreneurs does not decline due to the complicated situation derived from the pandemic. Half of the respondents who were thinking of starting go ahead with the plan, while 35% decided to delay the start-up of their project due to the crisis.
What leads young people to undertake? The reasons that lead them to create their own company are, in this order, being able to focus 100% on what they like (44%), being their own boss (41.1%) and obtaining more income than being an employee in a company (36.2%).
Tips for young entrepreneurs
If you are young and you are thinking of starting a business , you will be interested in putting these tips into practice:
1. Do it by vocation
Entrepreneurship is not an easy way out given the difficulty of finding a job. On the contrary, it is a complicated and highly vocational path. In fact, six out of ten Spanish entrepreneurs are serial entrepreneurs (that is, they are recurring after having created at least two startups) and they are so by vocation .
2. Professionalize your work
Even if you have just started your project, you must give confidence to partners or potential investors by giving a professional image . If you are not prepared to invest in your own office, you can resort to virtual offices or shared workspaces.
The virtual offices allow you to debit your company and your business have always taken care of by professionals. At First Workplaces we offer a service that includes personalized attention to calls, confidential reception and management of correspondence and an exclusive telephone number. In this way, you will have what you need to project a professional image while you focus on your company.
Other options that entrepreneurs who are starting out tend to resort to are shared offices or shared offices . If you choose them, you will be able to work in a comfortable, professional and prepared environment with all the services , such as reception, cleaning, security, personalized attention and access to meeting rooms.
3. Surround yourself with experienced people
Surround yourself with people who can give you good advice on entrepreneurship, based on their own experience. The so-called Business Angels fulfill this role of mentoring , although they also usually support the company in the financial part.
If your problems are related to the bureaucratic part of entrepreneurship, many entrepreneur associations offer advice and support in this field, as well as workshops, seminars and courses that can help you in the most creative part of the business.
Relationships between professionals ( networking ) are also more important than they seem: bet on cultivating them. In this sense, shared workspaces can be useful, since they will allow you to be in daily contact with other entrepreneurs and professionals.
At First centers, we are committed to reinforcing these synergies through the First Community , which gives users of our workspaces the possibility of promoting strategic alliances that help their growth through workshops , mentoring or training.
4. Learn when to delegate
Many young entrepreneurs who start building their project from scratch and without help hesitate to delegate certain tasks to other people. And yet, a support network is essential for success. In addition, having the vision of professionals not so close to the project can help you detect strengths and weaknesses and broaden your business vision.
5. Know your consumer
You may be creating the perfect product or service for yourself, but is it for your potential customers?
Many startups develop an innovative solution by paying too much attention to the vision of the development team itself, but neglecting the needs of the customers.
To overcome this issue, there are entrepreneurship methodologies , such as customer development , that help the product to develop based on customer expectations.
6. Be patient
Depending on the business model and the sector, your project can take a considerable time to be profitable. For this reason, it is essential to have a well-defined business and financing plan and avoid the burnout syndrome with proper time management (setting priorities, delegating responsibilities ...) and setting aside time for your leisure and hobbies.